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Bulgaria has undergone a significant transformation over the past three decades. It has transformed from a highly centralized, planned economy to an open, market-based, upper-middle-income economy securely anchored in the EU.

Advisory services to support the preparation and implementation of plans for river basin and flood management in Bulgaria.

Bulgaria At-A-Glance

Similar to 2015, GDP grew by 3.4% in 2016, a significant improvement compared to the 2009– 14 period. Exports, supported by strong demand from the EU, expanded at a robust rate and were the key driver of growth. Private consumption continued to improve on the basis of low inflation and favorable labor market conditions. Unemployment declined to a seven-year low.

Bulgaria in Figures

Bulgaria’s economic recovery continued in 2016 and supported improved fiscal performance but the medium-term outlook remains challenging. Stronger growth and improvements in the labor market have contributed to poverty reduction. Further gains in growth, poverty reduction and shared prosperity would hinge on strengthening institutions, boosting the skills and employability of the labor force, and improving the effectiveness and efficiency of public spending. Read more...